Devaluation: Naira-dollar exchange rate circa from 1984 to 1993 (roughly)

In 1984 the Naira-dollar exchange rate was 2:1 at the end of Shagari;

In 1985 it was 4 or 5:1 (under IMF pressure). Buhari overthrown in August 1985

By the time IBB left (1993) it was 80:1 (under SAP et al).

During Abacha's regime (1993 - 1998) it was circa 85:1. The dynamics of Abdulsalami, Obasanjo (2), UMYA, and GEJ can be tracked carefully as well and context placed in evaluating Buhari (2) since 2015.

Meanwhile the slide continues...., accelerating wildly as international Oil prices have dropped post GEJ - for multiple micro and macro reasons, including infrastructure collapse, criminality, etc...National development plans to position Nigeria for the future have been systematically underperforming since 1975....
"Devaluation" is never done in a vacuum. We "produce" little to nothing of export value practically, except mostly crude Oil, the price of which we do not control at a time of Oil oversupply, US Shale, increasing non-OPEC competitors, Iranian-Saudi rivalry etc... There have been no meaningful investments to prepare the country for the future (although originally projected in some parts of the country way back in the seventies)...even as we steal what we have (while lying to one another)....

Meanwhile it is unclear whether liquidity is being manipulated covertly by other forces our Central Bank cannot control (as in Chile under Allende)

Balance of Trade must be realistic; Pegging our currency to a stable mix of international currencies assessed carefully by patriotic leaders with sensitivity analysis, is a valuable option we must consider...

Diversification (which we have been paying lip service to particularly in recent years), is essential for survival..